Rates for 30-year home loans edged lower for the second straight week, a report said Thursday, but remained above last month’s record lows.
The average rate on a 30-year fixed mortgage was 5.06 percent this week, down from 5.09 percent a week earlier, mortgage company Freddie Mac said.
Rates dropped to a record low of 4.71 percent [...]
Archive for January, 2010
Mortgage rates fall for second straight week
January 26th, 2010 by Mortgage Writer
Tags: Freddie Mac, mortgage, mortgage rates, mortgages, news
more...FHA raises fees, tightens loan standards
January 26th, 2010 by Mortgage Writer
The Federal Housing Administration is raising fees and tightening lending standards to shore up its strapped finances and avoid a taxpayer bailout.
The government agency has seen its losses rise with the foreclosure rate. Its reserves have sunk below the minimum level required by Congress. A healthy FHA is vital for the housing market because it [...]
Tags: borrowers, mortgage, news
Mortgage relief reaches 7 percent of borrowers
January 26th, 2010 by Mortgage Writer
The Obama administration’s mortgage relief plan provided help to only 7 percent of borrowers who signed up last year.
About 900,000 borrowers have enrolled in the $75 billion program since it launched in March, the Treasury Department said Friday. But as of last month, only about 66,500 homeowners had received permanent relief. Another 46,000 have been [...]